Cubist Systematic Strategies LLC grew its holdings in Citizens Financial Group Inc (NYSE:CFG) by 227.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 433,018 shares of the bank’s stock after buying an additional 300,765 shares during the period. Cubist Systematic Strategies LLC owned 0.10% of Citizens Financial Group worth $15,312,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Citizens Financial Group by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 51,389,678 shares of the bank’s stock worth $1,817,139,000 after acquiring an additional 492,162 shares during the period. BlackRock Inc. increased its position in Citizens Financial Group by 4.2% in the 1st quarter. BlackRock Inc. now owns 43,794,858 shares of the bank’s stock valued at $1,423,333,000 after buying an additional 1,753,064 shares in the last quarter. Invesco Ltd. increased its position in Citizens Financial Group by 2.1% in the 2nd quarter. Invesco Ltd. now owns 21,632,377 shares of the bank’s stock valued at $764,921,000 after buying an additional 449,026 shares in the last quarter. LSV Asset Management increased its holdings in Citizens Financial Group by 0.4% during the 2nd quarter. LSV Asset Management now owns 9,282,568 shares of the bank’s stock worth $328,231,000 after purchasing an additional 36,539 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in Citizens Financial Group by 5.0% during the 2nd quarter. Bank of Montreal Can now owns 7,636,954 shares of the bank’s stock worth $270,041,000 after purchasing an additional 365,353 shares in the last quarter. 96.48% of the stock is owned by institutional investors.
Several research firms have issued reports on CFG. Zacks Investment Research downgraded Citizens Financial Group from a “hold” rating to a “sell” rating and set a $37.00 target price on the stock. in a research report on Friday, July 12th. Citigroup lowered shares of Citizens Financial Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $40.00 to $35.00 in a report on Friday, July 12th. UBS Group lowered shares of Citizens Financial Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $40.00 to $38.00 in a report on Wednesday, July 10th. Argus raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of Citizens Financial Group from $41.50 to $40.50 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.42.
NYSE CFG traded up $0.09 during trading on Friday, reaching $36.26. 57,043 shares of the company’s stock were exchanged, compared to its average volume of 3,601,219. The firm has a market capitalization of $16.13 billion, a PE ratio of 10.19, a P/E/G ratio of 1.76 and a beta of 1.47. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Citizens Financial Group Inc has a fifty-two week low of $27.62 and a fifty-two week high of $41.17. The company’s fifty day simple moving average is $34.04 and its 200-day simple moving average is $34.79.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.02. Citizens Financial Group had a return on equity of 8.94% and a net margin of 22.61%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Equities analysts forecast that Citizens Financial Group Inc will post 3.82 EPS for the current fiscal year.
In other news, Director Charles John Koch bought 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was acquired at an average cost of $32.45 per share, with a total value of $486,750.00. Following the transaction, the director now directly owns 68,781 shares of the company’s stock, valued at approximately $2,231,943.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.32% of the company’s stock.
Citizens Financial Group Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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